The board of trustees at Berlin-based Northeast Utilities approved a 6.25 percent increase in NU’s common dividend, increasing the annualized rate of 80 cents to 85 cents per share.
It is the company’s eighth consecutive dividend increase. NU declared a common dividend of $0.2125 per share payable on September 30, 2008, to shareholders of record as of September 1, 2008. In April, NU declared a regular quarterly dividend of 20 cents per share payable on June 30, 2008, to shareholders of record as of June 1, 2008.
“This dividend increase is based on our continued confidence in our future earnings and growth prospects and is a key part of the competitive total return we seek to provide to shareholders,” Charles W. Shivery, chairman, president and CEO of NU, said in a statement.
